In an article in Newsweek published Feb 9th, writer Craig Barrett, states that market share is won and loss in times of transition. And WOW, are we in a period of transition!
Between the transition to a global market, a near complete redefinition of the marketing industry through the effective use of inbound marketing, and the current recession, there is more "opportunity" for growth than probably any time in history - for those bold enough to take the risk.
That's right, Capitalism is alive. For those willing to risk, there is a great opportunity for large rewards.
In the article, the retired CEO of Intel, writes "you cannot save your way out of a recession, you can only invest your way out." Unfortunately, we are looking for the wrong people to invest - it's not the Government's job to invest our way out - it is the responsibility of Businesses.
No matter what the size of your business is today, you should be posturing yourself for the growth that is coming - investing time, money and energy to position yourself for the inevitable upside of the market.
But what should you be investing in?
In my opinion, the answer is simple - Your Systems and Your People.
Your systems got you through the last phase of growth, and they are keeping things working through the downturn. But are they as efficient as you need them to be in the coming market boom? Are you postured to compete in a world class, global market? Are you ready and capable of handling growth of 100% or more annually? If not, when growth hits your business, will you collapse under the weight of your own potential? These are all questions you should be asking yourself and your staff.
And your people - are you leveraging their talents? Are you even postured to? Most businesses look at employees as expenses, because of the cost every pay cycle. But few leverage the real talent each individual brings to the table. And even fewer businesses really train them or work on gaining their commitment to the vision of the business. This is the time to turn your employees from expenses to assets.
These are very tough questions, that I believe every business owner needs to ask. But more importantly, they are questions that every business owner must answer. Because when the wave of growth begins (and it will hit), they will be more likely washed away, than be postured to ride the wave to new heights.